Author: lbostgadmin
Asian shares flat, yen hits 2-week high ahead of BOJ
TOKYO, July 29 (Reuters) – Asian shares held near one-year highs while the yen hit a two-week high on Friday in nervous trade as investors waited to see if the Bank of Japan will come up with stimulus that would meet markets’ expectations. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat in early […]
Sri Lanka’s Central Bank increases policy rates by 50bps
July 28, 2016 (LBO) – The Monetary Board has decided to increase the main policy interest rates of the Central Bank, the Standing Deposit Facility Rate and the Standing Lending Facility Rate, by 50 basis points each to 7.00 percent and 8.50 percent respectively, effective from the close of business on 28 July 2016. “The […]
Canadian Foreign Minister says much more remains to be accomplished
Address by Canadian Minister of Foreign Affairs Stéphane Dion on the occasion of a joint press conference with Sri Lankan Minister of Foreign Affairs Mangala Samaraweera Ayubowan. Vanakkam. Good afternoon. Bonjour. I’m touched by the warmth and smiles that have greeted the Canadian delegation since our arrival in Sri Lanka last night. Minister Samaraweera, thank […]
John Keells Holdings net up 10-pct in June quarter
Jul 28, 2016 (LBO) – Sri Lanka’s diversified John Keells Holdings group profit after tax grew 10 percent to 2.6 billion rupees in the June quarter, from a year earlier with revenue climbing eight percent, the interim accounts showed. The consumer goods and transportation sectors posted strong growth of over 20 percent, while property, financial […]
Modi says Indian cooperation must happen as per Sri Lankan aspirations
July 28, 2016 (LBO) – Indian Prime Minister Narendra Modi today said that India’s development cooperation with Sri Lanka must happen as per aspirations of Sri Lanka. He said India’s development cooperation with Sri Lanka enjoys a wide spread of projects through out Sri Lanka in different areas of economic activities. “But it must happen […]
Sri Lanka launch first free pre-hospital care ambulance service with Indian grant
(PRESS RELEASE) – In a groundbreaking initiative, the country’s very first fully fledged free pre-hospital care ambulance service numbering a collective of 88 state of the art fully equipped vehicles was flagged off at Galle Face Green. To be operated initially in the Southern province with the service rolled out into the Western Province within […]
‘s PM
July 28, 2016 (LBO) – Former Governor Arjuna Mahendran has taken up an appointment as an advisor to Prime Minister Ranil Wickremesinghe in the area of investments, a government official said. Mahendran did not seek re-appointment for the position of Central Bank governor last month as a COPE investigation into treasury bond issues had not […]
CA Sri Lanka Exam Pass Rate Increases with new curriculum
(PRESS RELEASE) – The new curriculum introduced by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) last year has paved way for a significant increase in the pass rates of students who sat for the institute’s examinations this year in their pursuit to become globally sought after Chartered Accountants. CA Sri Lanka […]
Sri Lanka to establish technology incubator with Wayamba Uni
July 28, 2016 (LBO) – Sri Lanka will establish an incubator and technology transfer centre in a joint project with the Wayamba University at a cost of 46.5 million rupees. According to a Cabinet decision, the centre will be established in Makadura (West) Industrial Estate together with the National Enterprise Development Authority.”This will facilitate start-ups […]
Sri Lanka rupee up on bank dlr sales; c.bank rate decision eyed
July 28, 2016 (Reuters) – The Sri Lankan rupee edged up on Thursday as banks’ dollar sales surpassed mild demand for the greenback from importers, ahead of the central bank’s monetary policy rate announcement later in the day, dealers said. The central bank is expected to keep its key interest rates steady for a fifth […]
Hayleys Fibre approves Rs420mn property sale to Alumex
July 28, 2016 (LBO) – Shareholders of Sri Lanka’s Hayleys Fibre have unanimously approved a disposal of 420 million rupees worth freehold property located at Ja-Ela to listed Alumex through a related party transaction. The company called an EGM to get shareholder approval for the disposal, as the value of the property exceeds 50 percent […]
No quick fixes for Sri Lanka economy, future sunny: CB Governor
Jul 28, 2016 (LBO) – Sri Lanka’s new Central Bank governor says that he aims to have stable policies with strong fundamentals as opposed to quick fixes. “May countries are trying to create artificial momentum and if you look closely this has not worked,” Indrajit Coomaraswamy, Central Bank Governor said Thursday. “We will try to […]